Stock Analysis on Net
Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Starbucks Corp., consolidated income statement (quarterly data)

US$ in thousands

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3 months ended: Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Company-operated stores 3,444,400  4,766,000  5,780,700  5,480,100  5,535,000  5,159,000  5,370,300  5,060,100  5,060,400  4,828,000  4,741,800  4,477,000  4,509,000  4,195,400  4,469,300  4,507,700  4,181,600  3,944,200  4,210,600  3,886,600  3,915,000  3,622,900  3,772,800  3,275,600  3,290,500  3,068,000  3,343,800 
Licensed stores 300,500  689,800  792,000  734,700  725,000  678,200  737,100  683,600  660,600  625,600  682,400  617,600  588,300  546,700  602,400  593,300  527,200  493,100  540,600  481,500  475,200  421,300  483,900  422,500  408,100  356,200  401,800 
Other 477,200  539,900  524,400  532,200  563,000  468,700  525,300  560,000  589,300  578,200  649,500  603,800  564,200  551,900  661,200  610,200  529,200  555,900  622,300  546,700  491,000  519,300  546,500  482,600  455,100  449,600  494,000 
Net revenues 4,222,100  5,995,700  7,097,100  6,747,000  6,823,000  6,305,900  6,632,700  6,303,700  6,310,300  6,031,800  6,073,700  5,698,400  5,661,500  5,294,000  5,732,900  5,711,200  5,238,000  4,993,200  5,373,500  4,914,800  4,881,200  4,563,500  4,803,200  4,180,700  4,153,700  3,873,800  4,239,600 
Product and distribution costs (1,484,000) (1,997,700) (2,236,400) (355,800) (2,808,600) (2,603,800) (2,758,700) (2,600,700) (2,554,900) (2,516,000) (2,502,900) (2,352,900) (2,249,100) (2,141,200) (2,295,000) (2,254,300) (2,060,300) (2,010,300) (2,186,200) (1,982,600) (1,953,900) (1,859,800) (1,991,200) (1,723,000) (1,711,500) (1,629,200) (1,795,100)
Gross profit 2,738,100  3,998,000  4,860,700  6,391,200  4,014,400  3,702,100  3,874,000  3,703,000  3,755,400  3,515,800  3,570,800  3,345,500  3,412,400  3,152,800  3,437,900  3,456,900  3,177,700  2,982,900  3,187,300  2,932,200  2,927,300  2,703,700  2,812,000  2,457,700  2,442,200  2,244,600  2,444,500 
Store operating expenses (2,537,800) (2,721,400) (2,821,500) (4,532,500) (2,018,500) (1,949,600) (1,993,000) (1,841,600) (1,825,000) (1,789,600) (1,737,000) (1,639,800) (1,628,900) (1,586,400) (1,638,200) (1,562,300) (1,529,400) (1,466,400) (1,506,200) (1,378,600) (1,392,400) (1,324,600) (1,315,500) (1,152,100) (1,176,500) (1,134,500) (1,175,100)
Other operating expenses (133,600) (95,000) (101,800) (105,900) (89,600) (82,300) (93,200) (115,400) (148,000) (134,300) (141,600) (131,200) (142,500) (134,700) (145,400) (122,100) (137,500) (139,600) (146,200) (127,900) (131,600) (133,500) (129,400) (110,900) (120,600) (110,900) (114,900)
Depreciation and amortization expenses (361,000) (356,300) (351,000) (344,600) (343,100) (356,200) (333,400) (326,600) (330,000) (331,600) (258,800) (255,500) (252,600) (253,600) (249,700) (249,900) (247,600) (247,800) (235,500) (234,300) (236,500) (217,100) (206,000) (185,400) (180,100) (174,400) (169,700)
General and administrative expenses (399,900) (406,500) (434,200) (405,000) (480,200) (475,600) (463,300) (505,400) (468,700) (405,800) (379,100) (385,100) (325,000) (326,800) (356,400) (401,200) (323,400) (330,500) (305,500) (303,900) (288,500) (305,900) (298,400) (238,700) (269,400) (240,600) (242,600)
Restructuring and impairments (78,100) 700  (6,300) (11,900) (37,700) (43,000) (43,200) (45,200) (16,900) (134,700) (27,600) (33,300) (120,200) —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Litigation credit —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  20,200 
Income from equity investees 68,400  67,900  73,900  91,900  76,000  62,300  67,800  87,700  71,400  52,700  89,400  121,900  101,000  84,100  84,400  106,000  82,500  65,600  64,100  81,900  60,300  54,900  52,800  84,400  72,900  59,900  51,100 
Operating income (loss) (703,900) 487,400  1,219,800  1,083,200  1,121,300  857,700  1,015,700  956,500  1,038,200  772,500  1,116,100  1,022,500  1,044,200  935,400  1,132,600  1,227,400  1,022,300  864,200  1,058,000  969,400  938,600  777,500  915,500  855,000  768,500  644,100  813,500 
Gain resulting from acquisition of joint venture —  —  —  —  —  —  —  —  2,500  47,600  1,326,300  —  —  —  —  —  —  —  —  —  —  —  390,600  —  —  —  — 
Net gain (loss) resulting from divestiture of certain operations —  —  —  —  601,800  21,000  —  2,900  —  (4,900) 501,200  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Loss on extinguishment of debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (61,100) —  —  —  —  —  —  — 
Interest income and other, net 12,700  2,000  15,900  16,300  40,200  15,200  24,800  36,200  31,500  35,500  88,200  151,600  31,700  67,900  24,100  12,500  72,900  14,500  8,100  6,500  25,500  1,300  9,700  85,700  19,400  17,800  19,800 
Interest expense (120,800) (99,200) (91,900) (95,700) (86,400) (73,900) (75,000) (63,900) (45,400) (35,100) (25,900) (22,300) (23,500) (22,900) (23,800) (24,700) (21,800) (18,300) (16,500) (18,200) (19,100) (16,900) (16,300) (16,500) (16,400) (16,700) (14,500)
Earnings (loss) before income taxes (812,000) 390,200  1,143,800  1,003,800  1,676,900  820,000  965,500  931,700  1,026,800  815,600  3,005,900  1,151,800  1,052,400  980,400  1,132,900  1,215,200  1,073,400  860,400  1,049,600  896,600  945,000  761,900  1,299,500  924,200  771,500  645,200  818,800 
Income tax (expense) benefit 133,900  (65,400) (258,500) (201,600) (303,700) (161,200) (205,100) (175,600) (174,800) (155,800) (755,800) (362,500) (361,100) (327,600) (381,400) (413,500) (318,900) (285,400) (361,900) (243,900) (318,500) (266,300) (315,000) (336,600) (259,000) (218,300) (278,100)
Net earnings (loss) including noncontrolling interests (678,100) 324,800  885,300  802,200  1,373,200  658,800  760,400  756,100  852,000  659,800  2,250,100  789,300  691,300  652,800  751,500  801,700  754,500  575,000  687,700  652,700  626,500  495,600  984,500  587,600  512,500  426,900  540,700 
Net (earnings) loss attributable to noncontrolling interests (300) 3,600  400  400  (400) 4,400  200  (600) 500  300  100  (800) 300  —  300  (800) (400) 100  (100) —  200  (700) (1,400) 200  100  100  — 
Net earnings (loss) attributable to Starbucks (678,400) 328,400  885,700  802,600  1,372,800  663,200  760,600  755,500  852,500  660,100  2,250,200  788,500  691,600  652,800  751,800  800,900  754,100  575,100  687,600  652,700  626,700  494,900  983,100  587,800  512,600  427,000  540,700 

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

Income statement item Description The company
Net revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Starbucks Corp.’s net revenues decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Starbucks Corp.’s operating income (loss) decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Earnings (loss) before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Starbucks Corp.’s earnings (loss) before income taxes decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Net earnings (loss) attributable to Starbucks The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Starbucks Corp.’s net earnings (loss) attributable to Starbucks decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.